Method, medium, and apparatus of agreeing to provide a product prior to selecting a vendor to provide the product

• US 7,778,881 B2
• Filed: 02/02/2006
• Issued: 08/17/2010
• Est. Priority Date: 02/02/2006
• Status: Active Grant

• Current Assignee: Joseph G. Woodfin IV
• Original Assignee: Joseph G. Woodfin IV
• Inventors: Woodfin, Joseph G. IV
• Primary Examiner(s): Gang; Yogesh C
• Assistant Examiner(s): ZIMMERMAN, MATTHEW E
• Application Number:
  US11/346,610
• Publication Number:
  US 20070179861A1
• Time in Patent Office: 1,657 Days
• Field of Search: 705/26, 705/27
• US Class Current: 705/26.35
• CPC Class Codes: G06Q 30/0609 Buyer or seller confidence or verification
• CPC Class Codes: G06Q 30/0623 Item investigation
• CPC Class Codes: G06Q 30/0635 Processing of requisition or of purchase orders
• CPC Class Codes: G06Q 30/08 Auctions

Abstract

According to some embodiments, a transaction entity may determine historical pricing information associated with a plurality of vendors and a plurality of products. The transaction entity may also receive, from a remote customer, purchasing information associated with a requested product. A first price may be automatically calculated based at least in part on the purchasing information and the historical pricing information. Moreover, the transaction entity may agree to provide a selected product to the customer in exchange for payment of an amount based on the first price. It may also be automatically arranged for a remote selling vender to ship a sold product to the customer in exchange for payment of a second price from the transaction entity to the vendor.

Claims

1. A method associated with a transaction entity, comprising:

determining, by a transaction processing system, an average historical sales price for an automotive product;

receiving, by the transaction processing system, directly from a customer via a kiosk, a product identifier;

calculating, by the transaction processing system, a first price for the automotive product based at least in part on the average historical sales price and the product identifier;

agreeing, by the transaction processing system, to provide a customer the automotive product in exchange for payment of the first price;

subsequent to said agreeing;

selecting a plurality of potential vendors based at least in part on historical performance information and historical pricing information;

transmitting a request for the automotive product to the plurality of potential vendors;

receiving, from a selected vendor from the plurality of potential vendors, a second price for the automotive product and an image of the automotive product captured by the selected vendor, wherein the second price is different from and not based on the first price;

initiating payment of the second price to the selected vendor;

initiating shipment of the automotive product to a distribution center of the transaction entity;

monitoring the performance of the vendor using the image of the automotive product.

2. The method of claim 1, wherein the selection of a plurality of potential vendors is further based at least in part on a vendor grade.

3. The method of claim 2, wherein the vendor grade is associated with all of:

(i) historical pricing information, (ii) historical performance information, and (iii) warranty information.

4. The method of claim 1, wherein the distribution center is not associated with entities other than the transaction entity.

5. The method of claim 1, wherein the selected vender ships the automotive product in a package associated with the transaction entity.

6. The method of claim 5, further comprising:

automatically transmitting to the selected vendor an electronic representation of at least one of;

(i) a shipping label, (ii) a bill of lading, or (iii) a packing slip.

7. The method of claim 6, further comprising:

selecting a method of shipping based on;

(i) a location associated with the customer, (ii) a location associated with the selected vendor, and (iii) a product weight of the automotive product.

8. The method of claim 7, further comprising:

storing a tracking number associated with the initiated a shipment of the automotive product to the customer.

9. The method of claim 7, wherein the first price is further based on a cost associated with the selected method of shipping.

10. A non-transitory computer readable medium storing instructions which when executed by a computer processor cause the computer processor to perform a method to facilitate a used automotive part transaction, said method comprising:

determining, by a transaction processing system, an average historical sales price for an automotive product;

receiving, by the transaction processing system, directly from a customer via a kiosk, a product identifier;

calculating, by the transaction processing system, a first price for the automotive product based at least in part on the average historical sales price and the product identifier;

agreeing, by the transaction processing system, to provide a customer the automotive product in exchange for payment of the first price;

subsequent to said agreeing;

selecting a plurality of potential vendors based at least in part on historical performance information and historical pricing information;

transmitting a request for the automotive product to the plurality of potential vendors;

receiving, from a selected vendor from the plurality of potential vendors, a second price for the automotive product and an image of the automotive product captured by the selected vendor, wherein the second price is different from and not based on the first price;

initiating payment of the second price to the selected vendor;

initiating shipment of the automotive product to a distribution center of the transaction entity;

monitoring the performance of the vendor using the image of the automotive product.

11. The medium of claim 10, wherein the method further comprises:

automatically transmitting to the selected vendor an electronic representation of at least one of;

(i) a shipping label, (ii) a bill of lading, or (iii) a packing slip.

12. The medium of claim 10, wherein the method further comprises:

storing a tracking number associated with the initiated shipment of the automotive part to the customer.

13. An apparatus, comprising:

a communication unit;

a processor; and

a storage device in communication with said processor and storing instructions which, when executed by said processor, cause said processor to perform the following steps;

determine, by a transaction processing system, an average historical sales price for an automotive product;

receive, by the transaction processing system, directly from a customer via a kiosk, a product identifier;

calculate, by the transaction processing system, a first price for the automotive product based at least in part on the average historical sales price and the product identifier;

agree, by the transaction processing system, to provide a customer the automotive product in exchange for payment of the first price;

subsequent to said agreeing;

select a plurality of potential vendors based at least in part on historical performance information and historical pricing information;

transmit a request for the automotive product to the plurality of potential vendors;

receive, from a selected vendor from the plurality of potential vendors, a second price for the automotive product and an image of the automotive product captured by the selected vendor, wherein the second price is different from and not based on the first price;

initiate payment of the second price to the selected vendor;

initiate shipment of the automotive product to a distribution center of the transaction entity;

monitor the performance of the vendor using the image of the automotive product.

14. The apparatus of claim 13, wherein the storage device further stores at least one of:

(i) a historical pricing database, (ii) a customer database, or (iii) a sale database.

15. The apparatus of claim 13, wherein the storage device further stores instructions adapted to be executed by said processor to:

automatically transmit an electronic representation of a shipping label to the selected vendor, and

store a tracking number associated with the initiated shipment of the automotive product to the customer.